Interim Executive

TCHG Stacked 1.5 x 2.6After a turnover event an Interim Executive is worth considering.

A turnover event represents a transitional turning point for a healthcare (or any) organization. The turnover generally occurs when the organization recognizes that the situation with the incumbent is no longer working and a change is necessary. This is rarely due to lack of competency of the incumbent. More than likely, the reasons include loss of credibility, increasing lack of fit with the rest of the administrative team or organization. Other reasons include the failure of a significant strategy or program, unacceptable operating results or perceived incorrect strategic direction. My own dissertation research revealed that in 36% of the cases, the turnover is related to the organization growing beyond the capability of the incumbent or termination for cause.

Once the necessity of a turnover event is recognized, the organization should take several steps. The organization should consider outplacement assistance for the departing executive. If the executive has little recent experience in the job market, outplacement support will be invaluable in easing their transition. The next step in the process for many organizations is the engagement of a retained search consultant. During the search that can take four months or more, the organization should consider its transition plan. Ideally, the organization would have a formal succession plan in place but my research showed that 57% of the surveyed organizations have a succession plan that addresses the process for handling the transition.

[TCHG comment:  Contemplating an Interim solution..? Utilizing our network of “C” level executives across the US, we are capable and experienced at assisting companies to identify the skills set and level of experience necessary to keep stakeholders at bay and ensure a smooth transition. For more information, contact us at (210-960-5800).]

If the organization does not have extensive depth for the role that is being replaced, it should consider interim executive services. An experienced interim executive can reduce the probability of the organization suffering a setback during the transition. The interim can also provide a thorough assessment of the current situation. This assessment can aid the recruitment process by better defining the skills and experiences that will be the best for the organization going forward. Retained search consultants conduct a site survey visit and interview a number of executives in an effort to better understand the organization’s needs. (…read more)

Raymond A. Snead, Jr., D.Sc., FHFMA, FACHE…a practicing Interim Chief Financial Officer with a Doctorate degree in Health Services Administration. 

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Merging of Sourcing Recruiting

Merging Sourcing Recruiting – “It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness…  – Charles Dickens, A Tale of Two Cities”   Of course, the author’s intrepretation of Dickens’ work was referring to sourcing and recruiting circa 2012. What Dickens was really saying is that with the emergence of LinkedIn and related networking tools, sourcing should not be split apart from the full-cycle recruiting process. The work involved in both now overlaps to such a degree that you can’t logically separate the two without compromising performance. Reading between the lines of his epic novel, here’s why Dickens believes this way.  (…read more)

Do your hiring practices combine both worlds?  When selecting a 3rd party recruiter, having a meaningful dialogue as to their approach for selecting talent that goes beyond their “canned” marketing plug will expotentially improve the “quality of hire” and protect your company’s most valuable assets.

 

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